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Tuesday, Jul 23, 2024
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Sizzler Acquires Oscar’s

Sizzler International Inc. is acquiring 82 percent of locally based Oscar’s Restaurants for $16 million.

Sizzler, which is based in Culver City, Calif., has also agreed to pay as much as $3.1 million or more “if certain targets are achieved,” according to a statement released by the company.

The deal is expected to be completed by September.

Founded in 1991, Oscar’s currently owns and operates eight restaurants, seven in Southern California and one in Phoenix. Its menu includes pizzas, ribs, salad, breadsticks and chicken dishes. The restaurants’ business is estimated at 50 percent dine-in, 40 percent takeout and 10 percent catering.

“Our alignment with the Sizzler team should provide us with the market prescience and restaurant expertise to help create a solid foundation for us to build our brand and continue our expansion,” said John Sarkisian, Oscar’s CEO, in a statement released by Sizzler.

In the release, Charles Boppell, Sizzler’s president and CEO, said he was pleased with the acquisition. With Sizzler’s backing, Oscar’s should grow “rapidly,” Boppell said.

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